Financier said to have trouble finding allies to force change at media company.

January 16, 2006: 10:49 AM EST

NEW YORK (CNNMoney.com) -
So just who is on Carl Icahn's phone list?

The New York Times reported Monday that Icahn, an aggressive financier and Time Warner Inc. shareholder, is putting out calls in an effort to assemble a slate of directors for the world's largest media company, but is having trouble finding takers.

Icahn, who has said he is trying to influence changes at Time Warner (down $0.21 to $17.27, Research) to increase shareholder value, has approached several former Time Warner executives and prominent shareholders, including company directors Ted Turner, the founder of CNN, and former AOL Time Warner chairman Stephen Case, according to the Times.

However, Icahn denied that he's having difficulty finding members, telling the Times: "You'll see. We're talking to some very good people. I don't know where you're getting that it's not going well."

In December, Icahn said that Time Warner should be split into four distinct groups: cable, Internet, publishing and a fourth unit that would include movie studios and television networks.

Icahn, who has allied with three other funds to hold a 3 percent stake in Time Warner, has criticized some aspects of the company as wasteful excesses.